Bitmine Immersion Technologies (BMNR) has announced a significant milestone in its cryptocurrency holdings, now totaling $16.2 billion. This includes 6.03 million ETH tokens, $612 million in total cash and marketable securities, and other crypto assets. The company owns 4.9% of the total ETH supply, making it the largest ETH treasury in the world. Bitmine has been consistently accumulating ETH, nearing its goal of acquiring 5% of the total supply, which it refers to as the 'Alchemy of 5%'.
Thomas 'Tom' Lee, Chairman of Bitmine, released a message on October 7, 2026, titled 'Crypto Bull Underway, This Cycle Likely the Largest'. He highlighted the company's strategic position, noting that most of its ETH accumulation occurred during a crypto bear market. Lee also pointed out that Bitmine's share price has outperformed ETH during the 2025-2026 bear market, with ETH down 10% and BMNR down only 3% in the first nine months of 2026.
Bitmine's Series A Preferred Stock (BMNP) has also seen strong performance, gaining 24% since its issuance in June 2026. Lee noted that BMNP's yield of 9.56% reflects the superior stability and yield characteristics of ETH compared to other cryptocurrencies. The company's staking platform, MAVAN (Made in America VAlidator Network), has staked 5.07 million ETH, generating projected annualized staking rewards of $400 million at scale.
Bitmine's holdings also include $180 million in Beast Industries and $85 million in Eightco Holdings (NASDAQ: ORBS), providing investors indirect exposure to OpenAI. The company is backed by prominent institutional investors, including ARK's Cathie Wood, Founders Fund, and Pantera. Bitmine management believes the GENIUS Act and the SEC's Project Crypto are transformational for financial services, comparing their impact to the 1971 end of the Bretton Woods system.